As reported on Wednesday, research experts have lowered their recommendation on Gogo stock from “Hold” to “Sell”.
GOGO Stock Price Analysis:
GOGO stock opened at $15.82, with a 52-week low of $11.57 and a 52-week high of $23.69. The current market capitalization of Gogo is $2.02 billion with a P/E ratio of 22.28 and a beta of 1.32. Its 50-day and 200-day moving average prices are $15.87 and $14.81, respectively.
GOGO Stock Quarterly Earnings:
Gogo issued its quarterly financial results on February 28. The company’s earnings per share (EPS) of $0.21 above the consensus estimate of $0.15 by $0.06. Gogo’s net margin was 22.78%, and its return on equity was -56.06%.
The company’s quarterly revenue was $108.16 million, exceeding analyst projections of $107.16 million. In the same quarter a year ago, Gogo reported $0.17 in earnings per share.
Its revenue increased by 17.2% year-over-year. Experts expect that the company’s earnings per share for the current year will be $0.6.
Hedge Funds & Institutional Holdings:
A number of hedge funds and institutional investors have adjusted their holdings of Gogo in recent months.
In the first quarter, Great West Life Assurance Company of Canada increased its position in Gogo by 41.0%.
During the fourth quarter, PNC Financial Services Group Inc. increased its position in Gogo by 432.4 percent.
In the third quarter, Nisa Investment Advisors LLC increased its holdings in Gogo by 233.5%.
During the third quarter, the Royal Bank of Canada increased its holding in Gogo by 76.6 percent.
During the fourth quarter, Dark Forest Capital Management LP acquired a new position in Gogo.
Currently, institutional investors own 64,44% of the GOGO stock.
Gogo Inc., through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally.
The company operates through Commercial Aviation-North America, Commercial Aviation-Rest of World, and Business Aviation segments.
Its product platform includes networks, antennas, and airborne equipment and software. The company also offers interconnected voice over Internet protocol, and in-flight entertainment services; and voice and data services.
In addition, its portfolio comprises of in-flight systems, in-flight services, aviation partner support, engineering, and design and development services; and production operations functions. The company was founded in 1991 and is headquartered in Broomfield, Colorado.